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Air travel optimism bolster airline shares in Asia Pacific

The Qantas A380 begins flying a runway in Saxony, Dresden on August 21, 2020.

Tino Plunert | Alliance Images | Getty Images

SINGAPORE – Asia Pacific Airlines shares moved in trading on Tuesday after most of the turbulent announcements boosted international air travel trends.

Qantas Airways shares of Australia rose 2.55 percent, while Air New Zealand̵

7;s shares rose about 6 percent.

Those stocks soared when New Zealand Prime Minister Jacinda Ardern announced that Her international “bubble voyage” with Australia will begin on April 19.

Meanwhile, Singapore’s aviation regulator said that from May, the country will begin accepting travelers using the International Air Transport Association (IATA) mobile travel card for pre-departure inspection. Singapore Airlines shares were up about 0.2 percent in trading on Tuesday.

“Singapore’s aviation leader believes in the IATA Travel Pass is very important,” IATA Director-General Willie Walsh said in a statement.

“Continued trials have enabled us to pursue the IATA Travel Pass as a key tool for the industry’s new start by delivering verified travel health credentials to governments and travelers can be confident that they will be able to provide the best possible means of travel. Their personal information is secure and under their own control, ”Walsh said.

Elsewhere, Korean Air Lines shares were flat, while Japanese airline shares slowed in the wider region.Japan Airlines was down 2.44 percent, while ANA Holdings was down 2.19 percent.

Local media reported that quasi-emergency COVID-19 measures have been implemented since Monday in several Japanese provinces to try to stop the infection.

The air travel industry is one of the sectors hardest hit by the coronavirus outbreak as authorities around the world tighten borders to control the spread of the virus.

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